RY (Royal Bank of Canada) | 10% Short Trade Setup
Updated
Confirmation: 103.60
Invalidation: Local high
Type of Trade: Countercyclical (EMA50 above EMA200)
Target: 92.19
TF:4HR
Leverage: 2x
Pattern: 1) daily double top with 2) trendline break, 3) untested 8/1 Gann, and 4) frothy fundamentals (insufficient loan loss provisions).
Invalidation: Local high
Type of Trade: Countercyclical (EMA50 above EMA200)
Target: 92.19
TF:4HR
Leverage: 2x
Pattern: 1) daily double top with 2) trendline break, 3) untested 8/1 Gann, and 4) frothy fundamentals (insufficient loan loss provisions).
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